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Getzeman

Getzeman
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  • A Word Of Caution About Bank Of America's Share Buyback [View article]
    If BAC's management is poor because of what happened in the past, so is every other major bank's in the country. All the stocks tanked in 2008 and early 2009. All suffered dilution during the financial crisis. Your story implies BAC's competitors thrived. While I agree they've got plenty left to prove, the $10.5 billion capital expenditure plans are exactly what's needed and worth a cheer from stockholders.
    Mar 18 06:38 PM | 6 Likes Like |Link to Comment
  • Bank Of America Has Failed Shareholders [View article]
    Every investor has his own goals, of course, but I think BAC made the absolute best move possible for shareholders by buying their discounted (to book value) stock and retiring 8% debt -- an annual SAVINGS of around $450 million. Management and the board did the right thing, and have all along since Ken Lewis left IMHO.
    Mar 17 12:16 PM | 8 Likes Like |Link to Comment
  • Bank of America (BAC) is engaged in "accounting arbitrage" says Manal Mehta, reserving far less for legal cases than it may have to pay out. If regulators forced the bank to properly account for the possible losses, it's likely they would disallow any capital returns and force BofA to continue socking away its profits. [View news story]
    Once again, I would like to remind everyone that a majority of mortgage-backed investors have already accepted 8 cents on the dollar in settlement for a very very good reason: As accredited investors, they signed documents saying they knew all the risks, had done their due diligence, and accepted they could not sue in the future. I used to sell this stuff.
    Mar 6 02:53 PM | 2 Likes Like |Link to Comment
  • Bank Of America: Economic Value Added Portends Huge Gains [View article]
    BS
    Feb 25 09:22 AM | 3 Likes Like |Link to Comment
  • Bank Of America: Economic Value Added Portends Huge Gains [View article]
    BAC has more Vets as customers then any other U.S. bank.
    Feb 25 09:20 AM | 6 Likes Like |Link to Comment
  • Bank Of America: Economic Value Added Portends Huge Gains [View article]
    The impact of rising housing prices is a major reason the stock is up and headed higher, IMHO. The bears like to talk about millions of foreclosed properties still to be worked out, but that inventory rose in value by an average of 9% last year -- and it goes up every month. The negative impact of these and future foreclosures is being lessoned as we write.
    Feb 25 06:53 AM | 7 Likes Like |Link to Comment
  • Bank Of America: Quit Whining About Moynihan's Pay [View article]
    There are perhaps three banks on this top level with with BAC. Three men in the county who have a similar job. He is responsible for steering the ship: 100 million customers, 200,000 individual stockholders (but really 80 million people if you include the ownership of mutual funds), and about 250,000 employees and their families who depend on this institution to stay afloat. Is the captain of a ship better trained than one of twelve diesel mechanics? Moynihan and those like him (a handful in the world) have worked their whole lives to become considered for a position like this. You're theory of equality doesn't hold up in practice.
    Feb 23 07:26 AM | 1 Like Like |Link to Comment
  • Bank Of America: Quit Whining About Moynihan's Pay [View article]
    Here here. A brave story, in that Moynihan has also faced a hostile media. Banker = Criminal with today's journalists, and Moynihan's done a better than average job of putting a believable face out there for BAC's 100 million customers, the vast majority of whom have remained loyal -- perhaps a little because of Moynihan.
    Feb 22 06:57 AM | 3 Likes Like |Link to Comment
  • More on Bank of America (BAC) (previous): The board approves a 60% increase in CEO Moynihan's base salary to $1.5M in 2013. Between his base salary ($950K) and stock bonus, he earned nearly $12M in 2012. [View news story]
    His performance has been spectacular. He deserves $20 million a year. BAC is now the best capitalized bank in the U.S.
    Feb 19 05:49 PM | 4 Likes Like |Link to Comment
  • 5 Factors That Differentiate Bank Of America From Other Banks Of America [View article]
    Ridiculous. What's bad for the customer is bad for the bank and bad for shareholders. Nobody stays in business for a century by screwing customers. BAC is a lot more transparent about their finances than you or I.
    Feb 16 01:35 PM | 4 Likes Like |Link to Comment
  • 5 Factors That Differentiate Bank Of America From Other Banks Of America [View article]
    That's a lousy answer, Ed. Do you believe DRONE (which is a great nickname for a guy who listens only to government signals) that the bank whom 100 million Americans have chosen to do business with is dishonest and sleazy?
    Feb 16 07:40 AM | 5 Likes Like |Link to Comment
  • Bank Of America: More Trouble On The Way? [View article]
    Guess what backs a mortgage? (Real property.) Any idea what's been going up up up this year -- after the biggest haircut (30%) since the Depression? That's right, real property. You anti-bank guys keep talking about foreclosures and bad mortgages as if the paper was worthless. It's not. And the underlying values go up every month. THAT's why BAC is up this year, not litigation settlements.
    Jan 14 04:59 AM | 6 Likes Like |Link to Comment
  • Bank Of America: Reducing Balance Sheet Risk Ahead Of Expected Stock Buyback [View article]
    Best explanation I've read of MSRs and why the bank is selling. Thanks.
    Jan 10 07:12 AM | 3 Likes Like |Link to Comment
  • Fourteen banks are reportedly set to reach a $10B settlement with regulators over abusive foreclosure practices such as incorrect paperwork and excessive charges. The banks include the five that agreed to pay $26B in another deal earlier this year - JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Citigroup (C) and Ally Financial. The latest settlement will allow banks to end a review of 4M loan files that has cost 1.5B so far. [View news story]
    Yes, incorrect paperwork is a frightening thing. Bet it never happens where you work.
    Dec 31 05:00 AM | 3 Likes Like |Link to Comment
  • Bank Of America: Destined To Double In 2013? [View article]
    The sum of BAC's gross and potential mortgage liabilities declines every day the housing market rises. The commercial bank's existing trillion-dollar loan portfolio boosts earnings by billions every basis-point rise in long-term rates. Four or five years from now, BAC will be $45 a share and paying $2 a year in dividends. Anyone remember the bank crises of the 80s and 90s? Check what happened to bank stocks in the years after.
    Dec 18 01:29 PM | 6 Likes Like |Link to Comment
COMMENTS STATS
34 Comments
116 Likes